IOP welcomes government pledge to invest an extra £2 bn in R&D

The IOP has welcomed yesterday’s announcement that the government will invest an additional £2 bn a year for R&D by the end of this parliament.

In making the announcement, Prime Minister Theresa May said the investment was part of a “modern industrial strategy that will build on the UK’s strengths”.

Commenting on the announcement, the IOP’s president, Professor Roy Sambles, said: “The IOP welcomes Theresa May’s pledge to increase government investment into research and development in science and technology by £2 bn per year by 2020. This is good news for scientists, technologists and the nation as it will accelerate economic growth in fields such as healthcare, communications, national security and education as well as helping to maintain the UK’s place as a world leader.

“We look forward to seeing more specifics regarding this financial commitment, how exactly it will be implemented, and if some key areas which do not necessarily have a strong voice will be supported.

“We will continue to urge the government to safeguard the longstanding principles that ensure the strength of the UK science base and the industries it underpins: ease of movement for scientists, access to international partnerships and world-leading facilities. Today’s announcement is a signal that the government will prioritise support for science for the good of the UK post-Brexit.”